Wall Street brokerages predict that Hess Midstream Partners LP (NYSE:HESM) will post $169.15 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Hess Midstream Partners’ earnings, with the lowest sales estimate coming in at $167.10 million and the highest estimate coming in at $171.20 million. Hess Midstream Partners posted sales of $146.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The business is expected to announce its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Hess Midstream Partners will report full year sales of $660.02 million for the current year, with estimates ranging from $655.07 million to $669.00 million. For the next fiscal year, analysts expect that the company will report sales of $743.94 million, with estimates ranging from $682.20 million to $806.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Hess Midstream Partners.
Hess Midstream Partners (NYSE:HESM) last posted its earnings results on Wednesday, July 25th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Hess Midstream Partners had a return on equity of 2.48% and a net margin of 10.34%. The company had revenue of $164.70 million for the quarter, compared to the consensus estimate of $159.10 million.
Several analysts have recently issued reports on HESM shares. Zacks Investment Research upgraded Hess Midstream Partners from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, July 31st. Morgan Stanley upped their price objective on Hess Midstream Partners from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, August 17th. Finally, TheStreet upgraded Hess Midstream Partners from a “d+” rating to a “c” rating in a research report on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.75.
Several large investors have recently modified their holdings of HESM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Hess Midstream Partners during the second quarter worth about $6,565,000. Wells Fargo & Company MN lifted its position in Hess Midstream Partners by 254.7% during the first quarter. Wells Fargo & Company MN now owns 273,972 shares of the company’s stock worth $5,217,000 after buying an additional 196,721 shares during the period. Dividend Assets Capital LLC lifted its position in Hess Midstream Partners by 83.5% during the second quarter. Dividend Assets Capital LLC now owns 386,037 shares of the company’s stock worth $7,604,000 after buying an additional 175,677 shares during the period. Barclays PLC purchased a new position in Hess Midstream Partners during the first quarter worth about $1,999,000. Finally, GSA Capital Partners LLP lifted its position in Hess Midstream Partners by 352.5% during the second quarter. GSA Capital Partners LLP now owns 117,392 shares of the company’s stock worth $2,313,000 after buying an additional 91,449 shares during the period. Institutional investors and hedge funds own 51.29% of the company’s stock.
Shares of NYSE:HESM traded down $0.22 on Wednesday, hitting $22.66. The company had a trading volume of 19,100 shares, compared to its average volume of 91,416. Hess Midstream Partners has a 52-week low of $18.32 and a 52-week high of $24.51. The company has a market capitalization of $622.65 million, a P/E ratio of 19.83, a P/E/G ratio of 1.38 and a beta of 1.96.
Hess Midstream Partners Company Profile
Hess Midstream Partners LP owns, operates, develops, and acquires midstream assets to provide services to Hess and third-party customers in the United States. It operates through three segments: Gathering, Processing and Storage, and Terminaling and Export. The gathering segment include natural gas and crude oil gathering and compression systems located primarily in McKenzie, Williams and Mountrail Counties, and North Dakota.
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